Weekly news:

FINANCIAL & ECONOMIC NEWS

NEWS

Hungarian gov’t to bring forward payment of HUF 100–150 bln EU funds to businesses

Hungarian PM Gyurcsany sees little progress in EU climate change talks

MONETARY POLICY

UPDATE: Hungary’s Monetary Council cuts base rate by 50 bps to 10.50% at unscheduled meeting

COMPANY NEWS

MANUFACTURING

Canadian machinery co. Linamar’s Hungarian unit to invest HUF 5 bln, create 184 jobs

TRANSPORTATION

Budapest Airport strike continues, most flights on schedule

Budapest Airport workers’ general strike underway, flag carrier Malev cancels all flights

REAL ESTATE

PRESS: Top CEE developer TriGranit halves development pipeline to EUR 4 bln

OTHER COMPANY NEWS

Australian uranium miner WildHorse teams up with local peer to extend Hungarian project area

Printer maker Lexmark to open service center in Hungarian capital Budapest, hire 200

ENERGY NEWS

OIL & PETROCHEMICALS

Canada’s Falcon, Hungary’s MOL, ExxonMobil to combine Hungarian gas exploration licenses

Hungarian retail gasoline prices to fall HUF 9 per liter this week, diesel down HUF 12

HEAT, POWER & SEWAGE

PRESS: Hungarian industrialist Kapolyi to build 110 MW power plant in Serbia

Hungary’s state power holding MVM acquires 8.6% stake in RWE-controlled utility Emasz

IT & TELECOMMUNICATIONS

LANDLINE/MOBILE TELECOMS

Hungary’s fourth mobile license tender draws four applicants by Dec 12 deadline

Hungary’s mobile penetration rate rises to 117.8% in October

INTERNET

Hungarian Internet service revenues up 22% y/y to HUF 35.6 bln in Q3

RUSSIA & CIS NEWS HIGHLIGHTS

Russia expects responsible behavior from states that transit Russian hydrocarbons - Putin

Russian Defense Ministry to open seven representative offices abroad

Russian wine production falls more than 30% in November

Moscow city authorities warn opposition against march planned for Dec. 14, see action as illegal

Belarusian Parliament agrees for European Commission representative office to open in Minsk

Heckler tries to disrupt Medvedev Constitution day speech

Lukashenko confirms Belarus’ intention to develop relations with EU

Russia will not tolerate unlicensed production of Kalashnikovs – foreign min.

EU observer car comes under fire in Georgia near South Ossetia

New Russian patriarch’s enthronement set for February 1

No one should have monopoly influence in post-Soviet space – Russian Foreign Min.

Russia may cut oil export duty to USD 117-USD 119 per tonne on Jan 1 – Finance Ministry

Russia determined to join WTO, but not at any cost – Russian Foreign Min.

Russian-NATO cooperation should be resumed – Russian chief of staff

New coalition formed in Ukraine’s Parliament, new speaker sees no reason for change of PM

Lytvyn elected Ukraine’s new parliamentary speaker

Russian oil major Lukoil’s 2009 budget assumes oil price at USD 45 per barrel – CEO

Belarusian GDP up 10.8% in Jan-Nov - ministry

Belarusian inflation at 1.4% in Nov, 12% since year’s start

Russian GDP grows 6.2% annually in Q3; up 7.3% in Jan-Sept - Rosstat

Russia should not site Iskander missiles in Kaliningrad - NATO

Ukraine’s unpaid debts could disrupt gas supplies to EU – Gazprom official

Russian oil Yukos’ former vice-president Aleksanyan released from custody on bail

Ford Russia to halt production for nearly one month on Dec 24

Russian GDP may grow by 2% or dip by 4% in 2009 – Vyugin

S&P lowers Russia rating to ’BBB’, outlook negative

Russian trade surplus widens to USD 182.8 bln in 10 mths – customs

FINANCIAL MARKETS

EQUITIES

Budapest Stock Exchange share trading 05–12/12/2008

Budapest Stock Exchange, Indices, 05–12/12/2008

FIXED INCOME

Hungary fixed income benchmark yields 05–12/12/2008

CURRENCY

National Bank of Hungary official exchange rates 05–12/12/2008

Nb: This news report features only the headline of each news.

Agency Interfax